Resources Management Corp CT ADV Reduces Holdings in Ingersoll Rand Inc. (NYSE:IR)

Resources Management Corp CT ADV decreased its position in shares of Ingersoll Rand Inc. (NYSE:IR) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,714 shares of the industrial products company’s stock after selling 125 shares during the quarter. Resources Management Corp CT ADV’s holdings in Ingersoll Rand were worth $561,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Ingersoll Rand by 10.5% during the third quarter. FMR LLC now owns 16,152,094 shares of the industrial products company’s stock worth $1,585,489,000 after buying an additional 1,538,056 shares during the period. International Assets Investment Management LLC lifted its position in Ingersoll Rand by 9,681.5% in the third quarter. International Assets Investment Management LLC now owns 360,349 shares of the industrial products company’s stock valued at $353,720,000 after purchasing an additional 356,665 shares during the period. Ensign Peak Advisors Inc lifted its position in Ingersoll Rand by 20.8% in the second quarter. Ensign Peak Advisors Inc now owns 1,454,956 shares of the industrial products company’s stock valued at $132,168,000 after purchasing an additional 250,712 shares during the period. Dimensional Fund Advisors LP lifted its position in Ingersoll Rand by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,462,558 shares of the industrial products company’s stock valued at $314,549,000 after purchasing an additional 224,463 shares during the period. Finally, Swedbank AB lifted its position in Ingersoll Rand by 34.0% in the second quarter. Swedbank AB now owns 780,712 shares of the industrial products company’s stock valued at $70,920,000 after purchasing an additional 198,200 shares during the period. Hedge funds and other institutional investors own 95.27% of the company’s stock.

Wall Street Analysts Forecast Growth

IR has been the subject of a number of recent analyst reports. Citigroup raised their price objective on shares of Ingersoll Rand from $112.00 to $119.00 and gave the company a “buy” rating in a research report on Monday. Barclays increased their target price on shares of Ingersoll Rand from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Cfra increased their target price on shares of Ingersoll Rand from $85.00 to $95.00 and gave the company a “hold” rating in a report on Friday, October 4th. Wolfe Research raised shares of Ingersoll Rand to a “hold” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus cut shares of Ingersoll Rand from a “buy” rating to a “hold” rating and dropped their target price for the company from $112.00 to $107.00 in a report on Monday, November 18th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Ingersoll Rand currently has a consensus rating of “Moderate Buy” and an average price target of $105.67.

Insider Transactions at Ingersoll Rand

In other Ingersoll Rand news, CAO Michael J. Scheske sold 2,531 shares of Ingersoll Rand stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.44, for a total value of $246,620.64. Following the completion of the sale, the chief accounting officer now directly owns 11,910 shares of the company’s stock, valued at approximately $1,160,510.40. The trade was a 17.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.

Ingersoll Rand Trading Down 0.7 %

Shares of IR opened at $101.82 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.36 and a quick ratio of 1.71. The firm has a 50 day simple moving average of $100.94 and a 200-day simple moving average of $95.56. Ingersoll Rand Inc. has a 1-year low of $73.38 and a 1-year high of $106.03. The stock has a market cap of $41.03 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 3.88 and a beta of 1.42.

Ingersoll Rand Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 5th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.08%. Ingersoll Rand’s dividend payout ratio (DPR) is 3.90%.

Ingersoll Rand Company Profile

Ingersoll Rand Inc provides various mission-critical air, gas, liquid, and solid flow creation technologies services and solutions worldwide. It operates through two segments, Industrial Technologies and Services, and Precision and Science Technologies. The Industrial Technologies and Services segment designs, manufactures, markets, and services air and gas compression, vacuum, and blower products; fluid transfer equipment and loading systems; and power tools and lifting equipment, including associated aftermarket parts, consumables, air treatment equipment, controls, other accessories, and services under the under the Ingersoll Rand, Gardner Denver, Nash, CompAir, Elmo Rietschle brands, etc.